DUBLIN, July 12, 2019 /PRNewswire/ -- The "Leather Goods Market - Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
Global leather goods market is forecasted to grow at a CAGR of 6.2% during the forecast period (2019-2024).
- Leather goods are highly popular among consumers as they have inherent qualities such as dustproof, fireproof, crack proof, and durability which is expected to increase growth of leather goods market.
- Moreover, growing demand for trendy hand bags, premium leather wallets, and other leather products is influencing growth of leather goods market from last few years. Growing government support for leather industry is further driving the market growth. For instance, in India, 100% Foreign Direct Investment is permitted through the automatic route and government have reduced the excise duty to 6% from 12% on leather footwear (footwear with uppers made of leather) with retail sale price of more than USD 14.55 per pair.
Major Market Trends
Increased Demand for Leather Accessories
The thriving fashion industry has majorly uplifted the demand for leather handbags and wallets among the consumers, thereby driving the accessories market in the region. As a result, leather handbags hold the major market share in the accessories segment. In addition, leather accessories are not just limited to a general need. The consumers are more inclined toward aesthetic factors, and demand premium range goods as a fashion statement. Europe-based companies, such as Gucci, Gianni Versace, and Louis Vuitton, are the key players involved in the manufacturing of leather-based luxury goods.
Europe Emerges as the Largest Consumer of Leather Goods
Increasing fashion consciousness, rising disposable incomes, and increasing demand for attractive bags are driving the sales of luggage and leather goods in the region. The growing interest of consumers in travel and unique experiences is boosting the demand for leather goods, such as luggage bags, especially in the luxury segment as consumers increasingly sought high-quality items. Moreover, the strong prevalence of fashion-driven countries such as France and Italy, the region remains the largest consumer of the market.
Global leather goods market is highly fragmented as in the organized sector few key players are holding major market share whereas, in the unorganized sector, many small players are competing to gain market share. Adidas, Samsonite and Kering are some prominent players in the global market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 United Arab Emirates
220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.3 Samsonite IP Holdings
6.4.4 Tapestry Inc.
6.4.8 Capri Holdings Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/yba65z
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SOURCE Research and Markets